Bassett Furniture Industries (NASDAQ:BSET) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a buy rating in a research note published on Friday morning.

Bassett Furniture Industries Trading Down 0.4 %

Shares of BSET opened at $14.56 on Friday. Bassett Furniture Industries has a twelve month low of $12.10 and a twelve month high of $16.00. The stock’s fifty day simple moving average is $14.24 and its 200 day simple moving average is $14.02. The firm has a market capitalization of $128.13 million, a P/E ratio of -13.24, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.33. Bassett Furniture Industries had a negative return on equity of 2.42% and a negative net margin of 2.94%. Sell-side analysts predict that Bassett Furniture Industries will post 0.8 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.49%. The ex-dividend date is Friday, February 14th. Bassett Furniture Industries’s payout ratio is currently -72.73%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Bassett Furniture Industries stock. Empowered Funds LLC boosted its position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,554 shares of the company’s stock after purchasing an additional 1,135 shares during the period. Empowered Funds LLC owned approximately 0.30% of Bassett Furniture Industries worth $367,000 as of its most recent SEC filing. Institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.